Hello all,
Beginner at reporting stocks here, appreciate if anyone can help. I bought some stocks from 2018, never sold any of them, I was holding them. But due to some company acquisitions, some of my stocks got transferred to the new company. And at end of year, I somehow got a T5008 with "proceeds of disposition or settlement amount". I understand there might be gain/loss in the value of the stocks I hold due to the new company acquiring the old one. But I've never actually made a transaction to sell my stocks.
My question is, do I still have to report these "proceeds of disposition".
According to the T5008, I've gained on 1 acquisition of 1 company's stock. And have lost on another acquisition of another stock.
Do I report them? I haven't done a thing about initiating any of these transactions.
Thanks, any help is appreciated!
if you are a Canadian citizen who needs to file a Canadian return, you need to ask your question on the Turbotax Canadian website. This is the US income tax forum
https://turbotax.community.intuit.ca/community/forums/discussion/03/350
there is a US/Canada tax treaty.
Article IV determines what country (contracting state) you are a resident of
then Article XIII determines where it's taxable